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Which type of of market is the least likely to have an offcial currency? a. closed economy b. command economy c. traditional economy d. mixed market economy

User Omilus
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Final answer:

A traditional economy is the type of market that is least likely to have an official currency.

Step-by-step explanation:

The type of market that is least likely to have an official currency is c. traditional economy. In a traditional economy, goods and services are exchanged through barter and trade rather than using a specific currency. This type of economy is usually found in remote, rural communities or indigenous societies where traditional customs and practices are still predominant.

In a traditional economy, people rely on subsistence farming, hunting, and gathering for their sustenance. They produce goods and services for their own consumption or for exchange within their community, without the need for a central currency. Instead, they may rely on the exchange of goods or services directly, allowing for a more direct and localized economy.

For example, in some indigenous societies, people may trade food or handmade crafts in exchange for other necessary items like clothing or tools. This type of economy is based on social relationships and reciprocity rather than monetary transactions.

Learn more about traditional economy

User Joseph Weissman
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